Fitch Affirms JIB at BB- ; OUTLOOK STABLE

Fitch Ratings has affirmed Jordan Islamic Bank's (JIB) Long-Term Issuer Default Rating (IDR) at 'BB-'. The Outlook is Stable. At the same time, Fitch has affirmed all of JIB's other ratings: short term (IDR) affirmed at  “B” ,viability rating at “bb-“, support rating at “4” and support rating Floor “B+”. The report issued by Fitch Ratings - Paris/London -20 February 2019 indicates that the affirmation of the ratings is an assertion of the bank’s strong liquidity and funding, resilient and granular deposit base, adequate capital, healthy asset quality metrics, its continuation to demonstrate consistent profitability despite challenging operating conditions, a difficult regional environment and rising tensions. However, JIB is considered the largest Islamic bank in Jordan with an 11% share of total banking sector deposits, 56% of the total Islamic banking sector assets and 55% of total Islamic financing at end 2017. Commenting on the ratings, Mr. Musa Shihadeh, General Manager of Jordan Islamic Bank, said: "The affirmation of the ratings granted to our bank by Fitch Ratings reflects the Agency's belief in the Bank's ability to implement its strategy to achieve the best accomplishments while maintaining a strong financial and credit position to meet various challenges. Stressing the ability of the bank to strengthen its banking position among Jordanian banks”.